The stock of FLEETCOR Technologies Inc. (NYSE:FLT) decreased by -$3.07 on Friday to finish at $265.54, down -1.14 percent. The last five days have seen an average of 589,180 shares of common stock traded. 39 times new highs were reached in the current year, with a gain of $81.86. The average number of shares traded over the last 20 days was 485,680, while the average volume over the last 50 days totaled 435,818.
FLT stock appreciated 1.93% since last month. On 08/03/23, the company’s shares reached a one-month low of $241.43. The stock touched a high of $272.37 on 08/10/23, after rallying from a low of $161.69 in 52 weeks. The price of FLT stock has risen by 44.57% or $81.86 this year, reaching a new high 39 times. Still, the stock price is down -2.51% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
FLT stock investors should be aware that FLEETCOR Technologies Inc. (FLT) stock had its last reported insider trading activity 336 days ago on Sep 12. On Sep 12, Group President, Global Fleet King Alan sold 1,379 shares at $223.38 each. This transaction resulted in the insider making $308,037.
Valuation Metrics
FLEETCOR Technologies Inc. (FLT) has a trailing price-to-earnings (P/E) ratio of 21.41. Beta for the stock is 1.19. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.47, the price-to-book (PB) ratio of 6.01, and the price-to-cash flow ratio of 14.41.
Financial Health
For the three months ended June 29, FLEETCOR Technologies Inc.’s quick ratio was 1.10, while its current ratio was 1.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.43, and the total debt to equity ratio is 2.07. FLEETCOR Technologies Inc.’s EBITDA margin for the year ended June 29 was 52.28%, whereas its operating margin stood at 42.60% for the same period. Based on annual data, it had gross profit of $1.98 billion and revenue of $3.43 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. FLT’s return on assets (ROA) during the last 12 months has been 6.40%. There was a 11.70% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 34.00%.
Earnings Surprise
According to FLEETCOR Technologies Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $948.17 million, while revenues rose by 9.16% to $901.33 million. It was predicted that FLEETCOR Technologies Inc.’s quarterly earnings would be $4.19, but it ended up being $4.17, beating the consensus by 0.50%. EBITDA was $498.11 million for the quarter. At the end of FLEETCOR Technologies Inc.’s most recent quarter ended June 29, its liabilities totaled 11.92 billion, while its total debt was $6.75 billion. Equity owned by shareholders amounts to $73.96 million.
Technical Picture
Here’s a quick look at FLEETCOR Technologies Inc.’s (FLT) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 68.22%, suggesting the stock is Neutral, with a 38.43% historical volatility rate.
The stochastic %K and %D were 85.71% and 66.53% respectively, while the average true range (ATR) was 6.54. Based on the 14-day stochastic reading of 77.93%, the RSI (14) reading is 65.07%. On the 9-day MACD Oscillator, the stock is at 12.05, and the 14-day reading is at 13.39.
Analyst Ratings
In its analyst report released on July 07, 2023, Deutsche Bank began covering FLEETCOR Technologies Inc. (NYSE: FLT). The stock was rated as a Buy by the brokerage firm. Analysts have assigned FLEETCOR Technologies Inc. (FLT) an Overweight rating. FLT is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 4 rates it overweight and 10 others recommend it as a buy.
What is FLT’s price target for the next 12 months?
The current consensus forecast for the stock is between $244.00 and $322.00, with a median target price of $283.00. In analyzing these forecasts, the average price target given by analysts for FLEETCOR Technologies Inc. (FLT) is $282.29.
